Even before the COVID-19 lockdown took hold throughout Europe, 65% of European customers were using CBD to destress.
But since the lockdown began the CBD market has only continued to grow.
In particular, there has been an increase in demand for oils and tinctures which were already the leading choice amongst most customers.
According to new research from New Frontier Data, 75% of CBD consumers state that the quality of product is of the highest importance.
“We are highly aware of all the present concerns and demands on the market,” said Sasha Bajilo, CEO of Ilesol Pharmaceuticals, a European cannabinoid company.
“Due to changes in legislation, there is more and more interest in cosmetic formulations, like toothpaste, cremes, lip balms, lotions, shampoos, etc. Our next step is faster business development towards meeting those demands”.
Ilesol Pharmaceuticals prides itself on being able to provide a client with whatever it needs. It also guarantees its customers products with or below a 0.2% THC content, always at the client’s request.
They’re also hoping to find some new products which can capitalize on many more of the cannabinoids in cannabis. There are over one hundred cannabinoid compounds in cannabis plants but only CBD and THC are the most well known and widely used.
“Our new product is an extract standardised on five cannabinoids – CBD, CBG, CBC, CBN, and THC. We can easily say we are pioneers in that field since there are none such products in the market at the moment. We believe that in future the standardised extracts will be used as ingredients on a much bigger scale,” said Bajilo.